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The U.S. announced a record-breaking SPR release of 180 million bbls. Assuming that the SPR hits between May 6 to Oct. 14, US commercial crude storage will build during the summer months. US crude storage with SPR is set to fall below ~800 million bbls as the unprecedented SPR rel...
We see the West’s drive for energy security slowing growth, increasing inflation and stoking demand for non-Russian fossil fuels to alleviate consumer pain. Data last week showed U.S. inflation at 40-year highs and a robust labor market. We expect the Fed to deliver on this yea...
SEC's proposed ESG disclosures will help the marketplace to least differentiate between various players through a wider assessment of carbon footprints and carbon shadows. The US and EU have agreed a deal, where the US will supply at least an additional 15bcm of LNG to the EU in 2022....
We see specific themes in commodities that could benefit from the transition to a low carbon economy. On average, since 1997, commodities have historically outperformed the S&P 500 in the first 12 months after the beginning of a rate hiking cycle. Investors are increasingly us...
In the case of pipeline supply disruption to Europe, Russia needs to look to alternative markets in Asia, given that it has no strategic petroleum reserve (SPR) system. Insufficient crude oil pipeline transmission capacity will limit how much additional oil Russia can send to mainland...
U.S. January production decreased by a surprising 216 kb/d to 11,371 kb/d. In December production dropped by 206 kb/d. While summer hurricanes are a well known weather phenomenon that affects GOM production, winter storms may be a new factor to consider when forecasting December to Fe...
The magnitude of the war’s impact on growth and inflation will be determined by how much and for how long energy prices rise. The war, economic sanctions and the associated rise in energy costs are likely to exacerbate global shipping impediments, too, which had begun to recove...
Western economies received a rude awakening to the risks of supply chain disruptions and component dependency/deficiency during the Covid pandemic. Sovereigns, businesses, and households today are all highly leveraged. Inflation is likely to be higher than the Fed’s target ...
Post-drilling laboratory analysis of the nature of the hydrocarbons determined that the well had encountered light oils. The Kawa 1 discovery has also emboldened exploration in surrounding blocks and shifted operators' efforts towards hydrocarbon potential in the shallow water acreage...
A large difference between the pandemic and the war in Ukraine is that supply chains are no longer “only” disrupted but they could be destroyed for good. The European Commission has already announced plans to reduce its energy dependence on Russia. once the required ...